TOP STORIES 
 
OIL PRICES EXTEND LOSSES AFTER INVENTORY DATA 

Oil prices extended their losses after weekly inventory data showed unexpected increases in U.S. crude and gasoline supplies.

U.S. EXISTING-HOME SALES FALL FOR  FIRST TIME SINCE FEBRUARY 

Sales of previously owned homes slipped 3.2% in July, a sign the U.S. housing-market recovery could be uneven as limited inventory and rising prices put purchases out of reach for some Americans.

PFIZER BUYS PART OF ASTRAZENECA'S ANTIBIOTICS BUSINESS 

Pfizer said the deal would boost its stable of older products, some of which have lost patent protection.

STOCKS SLIP, ALONG WITH OIL PRICES 

U.S. stocks slipped in quiet trade, while the price of oil took a fresh fall.

FED'S KAPLAN SAYS RATE RISE IS GETTING CLOSER 

Federal Reserve Bank of Dallas President Robert Kaplan said he expects the Fed to raise interest rates this year if the U.S. grows at around 2% and sees declining unemployment levels.

EARTHQUAKE HITS CENTRAL ITALY, KILLING DOZENS 

A 6.2-magnitude earthquake struck central Italy, killing 73 people and leaving many trapped beneath the rubble of buildings that collapsed while they slept. Local officials said the number of injured was "high" and dozens of people were missing.

AMERICAN UNIVERSITY IN KABUL ATTACKED 

The president of the American University in the Afghan capital said a militant attack is underway on the campus.

J.P. MORGAN CREATES EXECUTIVE ROLE TO LEAD CLOUD SERVICES 

J.P. Morgan Chase is reaching further into the cloud, using the technology to cut costs and boost efficiencies.

FORD RECALLS VEHICLES OVER STALLING PROBLEM 

Ford Motor Co. is recalling more than 88,000 cars and SUVs in North America because the engines can stall without warning because of a fuel pump problem.

AAA WARNS OF MISCONCEPTIONS REGARDING AUTOMATIC BRAKING 

The automatic emergency braking systems showing up on an increasing number of vehicles may not work quite the way drivers think they do, according to a study conducted by AAA.

GLENCORE REPORTS NARROWER LOSS, CUTS DEBT 

Commodities giant Glencore reported a narrower first-half net loss and signaled that it is on track to reduce debt by selling unwanted assets.

EXPRESS CUTS GUIDANCE AS SALES DECLINES 

Express again slashed its profit forecast for the year as the apparel chain reported sliding sales in the latest quarter, hurt by dwindling store traffic and online sales.

REGULATORS APPROVE HEMP DERIVATIVES EXCHANGE 

The Commodity Futures Trading Commission approved the first exchange for hemp derivatives when it allowed Seed SEF to register a swap execution facility.

EU, PORTUGAL REACH AGREEMENT ON PLAN TO RECAPITALIZE LENDER 

The EU and Portugal have reached an initial agreement to inject billions of euros into Caixa Geral de Depositos, Portugal's largest lender by assets, an important step toward cleaning up the country's troubled banking sector.

SKULLCANDY TO BE BOUGHT BY MILL ROAD 

Headphones maker Skullcandy said it would be acquired by private-equity firm Mill Road Capital Management, likely ending a monthslong takeover battle as rival bidder Incipio walks away from its pursuit.

JENI'S SPLENDID ICE CREAMS GETS FDA WARNING AFTER PLANT INSPECTIONS 

The Food and Drug Administration said it found a dangerous form of listeria in the company's Columbus, Ohio, manufacturing plant that supplies the base for Jeni's ice creams and frozen yogurts.

HONG KONG SECURITIES REGULATOR FINES MORGAN STANLEY $2.4 MILLION 

The regulator fined and publicly reprimanded an Asian unit of Morgan Stanley for the failure of its internal controls related to trading, among other things.

LLOYDS CHIEF APOLOGIZES AFTER AFFAIR ALLEGATIONS 

Lloyds Banking Group Chief Executive Antó nio Horta-Osó rio apologized to the British bank's staff following allegations that he had an affair while on a business trip.

ROYAL BANK OF CANADA'S PROFIT INCREASES 

Royal Bank of Canada, one of Canada's largest lenders by assets, said revenue and profit rose in its third quarter.

PETROCHINA AND CNOOC RESULTS PLUNGE 

The tough times for China's oil companies appear likely to continue after PetroChina and Cnooc reported weak earnings Wednesday and said they saw little room for optimism for the rest of the year.

 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Capital Account 
CENTRAL BANKERS' MAIN CHALLENGE: STAYING RELEVANT 
 

When central bankers gather this week in Jackson Hole, Wyo., they will be consumed not with some pressing crisis in the global economy but by an existential threat to their relevance, Greg Ip writes.

 
Moneybeat Blog 
DIVIDENDS CAN'T DRIVE THIS MARKET FOREVER 
 

Dividends have been driving the stock market for months. But the gas has to run out eventually.

(END) Dow Jones Newswires

August 24, 2016 12:56 ET (16:56 GMT)